- Big 5 CPA Firm
- Elite Consultancy
- 2 Fortune 500 C suites
- Power Politics
- Private Practice
Theory of the Exponential Value of Experience
The value of experience increases exponentially with each year of pertinent experience. Hence the term, Exponential Experience.
Here’s my chart.
Notice how the line gets steeper with each decade of pertinent experience. “Life experience” isn’t pertinent.
Experience is the knowledge or mastery of a subject gained through involvement in or exposure to that subject. Terms such as "empirical knowledge" or "a posteriori knowledge" are used to refer to knowledge based on experience. Throughout history to this day, the most powerful and valuable people to a society or a profession are those with the most pertinent experience. There are grey hairs everywhere.
There is one caveat, however. There is good experience and there is bad experience.Just living is experience, but it doesn't provide mastery of a subject.
My theory is the more pertinent experience a person has, the more valuable, the more effective, the more productive that person becomes. Both our firm and myself as principal rank at the top of the experience scale.
You can see how the value of experience grows exponentially. In the middle of my fifth decade doing tax strategy, my experience is 100 times more valuable than someone just getting started.
My Exponential Experience.
After graduating with highest grades from college, my experience includes a Big 5 accounting firm, C suite positions at two Fortune 500 companies and private practice.
My big accomplishment came when my team introduced mag stripe cards to the American marketplace. We thought we were solving banking's paper problem. We did that but we nearly killed the company in the process when software enhancements dunder-performed expectations. When the company pivoted away from our tech leadership position to save the company, I made a failed attempt to LBO it. So I ran for Congress.
Afterwards I found myself on the banks of the Colorado River where I started a private CPA tax practice. The internet was becoming a thing, so I took advantage. Ellis is not your dad's CPA firm. We’re a creative, tax strategy powerhouse among the vanguard of a new breed of cutting edge, high performance virtual firms disrupting the tax & advisory professions with tax strategy, dedicated specialists & powerful cloud based technologies from our home in the cloud. Clients in 46 states & 5 countries.
Today we have a national reputation for tax strategy.
Experience in the same trade or profession grows exponentially deep because every year it grows on itself. The longer you are in the profession, the more powerful you become. Experience in a wide variety of activities make you jack of all trades with a little experience in a lot of different areas. There is value in that too because variety, but the lion's share of value goes to deep experience.
Experience is a tricky thing. The more someone works, the more experience he accumulates. But the problem is, there's good experience and there's bad experience. A lot of experience is useless. The experience we bring to the table, we bring from a variety of business and professional backgrounds that are highly pertinent to advising successful businesses to be more successful.
Experience >> Expertise
If you want an expert in a certain field, you want the kind of experience that builds and becomes better, deeper & more reliable over an entire career in the same profession spent at every level from the very bottom to the very top level. For tax professionals the very best experience begins at entry level at a Big 5 or Big 4 CPA firm, to a Global 500 or Fortune 500 C suite, then on to private practice. It will include interstate & international experience. In that case, the value of experience grows exponentially at 5% per year.
But reading the words doesn’t fully convey the concept. To understand the significance of experience, look at the graph above. That is the Exponential Experience graph of our founder. Notice how the value of experience grows slowly from 1 to 18.65 in the first 3 decades (from 1 to 4 on the graph). But it grows rapidly to 49.56 and 131.5 during the fourth & fifth decades. I personally am working on my 5th decade. Right now I am more 100 times more experienced, more effective & more valuable than when I first went to work. Someone with more decades of experience is vastly more valuable to a company. That is why most of our elected officials and successful corporate leaders are older.
Tax strategy requires extensive experience in various fields. Ellis brings its highly experienced staff to the table to perform your tax & accounting work, led by our founder whose background includes more than four decades of pertinent experience. The first half of his career was spent with Big 5 CPA & consulting firms, and in the C suites of two Fortune 500 companies. The second half he spent doing tax strategy exclusively for privately owned businesses.
Young people with only 25 or 30 years of experience simply can’t compete. That’s why they practice relationship based marketing. It’s also why we practice results based marketing.
There is also a difference between working with the biggest, most sophisticated & ubiquitous firms in the world, and working with ordinary local firms. That difference is not reflected in the graph. Our founder’s experience is the highest quality & diversity possible, while remaining constantly pertinent.
- Big 5 accounting firm
- Big 5 consultancy
- C-Suite positions at two Fortune 500 companies
- Attempted to LBO global employer
- Ran for Congress
- Private practice
- Clients in 46 states
- See LinkedIn for career details.
Recognized & honored by the Wall Street Journal, the United States Congress & author Harvey MacKay. The biggest feather in my cap is this, I introduced digital electronic transactions to the American marketplace when I put a magnetic stripe on the back of charge cards, encoded them and shipped them out to cardholders, while simultaneously dropping cash terminals into shopping centers and parking lots.